Topic: Trader took his own life after the recent huge dump - page 6. (Read 874 times)
There's so many untold stories when in comes to losing money in trading, and this one is very sad to know someone will took life because these challenges, leveraging is not for all, that's way too risky and you can lose everything in just a short period of time. Rest in peace to the friend of that Sender and I hope this serve as a lesson to everyone here, the market will always go up and down, put the money that you can only afford to lose, don't go all in.
^ I feel sorry for the loss of the person who posted this. Only if he knew his friend was going through those circumstances, help might have been given by him. You know what? I think we all have to learn to avoid leveraging especially with the volatile market and you use all of your life savings to trade. That is a very risky one and consequences might be big. And sometimes, when we feel a short and temporary success, the tendency is we grow our egos in a way that we think we are the best. And when the failure hits us, we don’t have somewhere to go to seek assistance and help because we eat us. A negative effect of quick success.
I think, this time of the year. The best thing to improve and develop is persistence and stoicism. We all are in an industry with volatility that would either make or break us. Financially we may become quickly successful but the negative effect of it is still intact.
And the time that you lose, things will go wrong one by one. You start to hate your life in a way that you won’t respect it that much and take it. The same thing happened to the trader.
I’m not a trader myself, but I own cryptocurrencies and I am also affected by the correction. I just feel bad about his person since if only he knew that he can still recover from the losses he had, he might become successful.
And the time that you lose, things will go wrong one by one. You start to hate your life in a way that you won’t respect it that much and take it. The same thing happened to the trader.
I’m not a trader myself, but I own cryptocurrencies and I am also affected by the correction. I just feel bad about his person since if only he knew that he can still recover from the losses he had, he might become successful.
"Do not trade on leverage unless you are professional" and "do not trade with money that will cause you to commit suicide if you lose it" are not the same things. I believe there is a good chance that you could potentially end up losing your money if you are not a professional but if you get in with low amounts that you do not care about that will not be a problem. It's hard I know because even the minimums in some places are like 50 bucks and for people like me losing 50 bucks hurts, not remotely enough to commit suicide, it is like 10% of my salary so it is a bad thing for me of course, but it is not really THAT bad, it is like making a bad purchase, buying a useless toy, that kind of stuff.
This is why do carry on trading on leverage, even very high leverage if you are an amateur, who cares? But, only do it with money that you can afford to lose, think of that money as gone, if you do not mind that money lost then you can do it but if you do it with money that is so high that you want to kill yourself? That's very wrong.
This is why do carry on trading on leverage, even very high leverage if you are an amateur, who cares? But, only do it with money that you can afford to lose, think of that money as gone, if you do not mind that money lost then you can do it but if you do it with money that is so high that you want to kill yourself? That's very wrong.
This is why important to have risk management when doing leverage trading. My friend also got liquidated with the recent crash, all his profit including the capital from the start of the year on leverage trading went to waste. I only know him online and I hope he is doing okay. Leverage trading is really risky even if you have big capital. Even if your liquidation price is far and didn't put a stop loss thinking that is impossible to go that low, if market dumps like this there is a high chance you will get liquidated.
This unfortunately happens a lot in bear markets or price crashes like this. Truth be told for the readers — while money is definitely important, money isn't everything. Money that was lost can be made back in the future whereas on the other hand, you only have one chance at life. Be careful with making impulsive decisions.
Would it not happen if he had closed his position on Binance? I think so too. Reddit deleted it, I wonder how old he was.
It would have been different if he sees his family and see how many people love him even if he did some mistakes.
Anyway, margin trading is more stressful than just doing it on the spot market. I've seen pro traders share the analysis but they don't really engage in margin trading and it's all because the capital can easily get liquidated when the market goes against the position.
It would have been different if he sees his family and see how many people love him even if he did some mistakes.
Anyway, margin trading is more stressful than just doing it on the spot market. I've seen pro traders share the analysis but they don't really engage in margin trading and it's all because the capital can easily get liquidated when the market goes against the position.
Damn this is a grave news. People should really take cautious when dealing with leverage trading. Mind those who have fainted hearts to avoid trading style like this. You let the emotions take in and once a user can't take the result definitely will result to something like this. Money is so hard to earn and probably the victim can't take it that his long time saving is already gone just like that. I'm very sorry to the one who've posted this on reddit I'm sure yohlu can't accept the reality of what happened.
https://www.reddit.com/r/CryptoCurrency/comments/ngk8f6/please_dont_trade_on_leverage_if_you_arent_a/
As we all saw the recent dump of Bitcoin, which Bitcoin dropped around $30,000 recently.
I saw a very sad Reddit post, I don't know if this is true but this is very important for all the traders out there that we should always trade responsibly.
It's just money everyone, we can make it all back! Never ever do something stupid that will put you at risk of your life with it.
If you guys also having a hard time or lost a lot recently, let's talk about it, feel free to post here or send me a message, I am willing to talk with you
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